Oleander Place Townhomes Gathering Steam - Opens Sales Center

Below you'll find a great article about Oleander Place Townhomes written by Betty Dillard of the Fort Worth Business Press. Oleander Place's sales center is now open and we have some wonderful pre-completion pricing!
The buzz is building so please stop by the sales center at 1112 S Adams in Fort Worth's Near Southside soon to see our beautiful floorplans and finishes or give me a call.

Oleander Place development breaks ground

BY BETTY DILLARD

March 10, 2008

Construction is under way on Oleander Place Townhomes, the newest kid on the trendy block in Fort Worth’s blossoming urban renewal in the Near Southside.

Located in the heart of a growing urban village on the Oleander Walk and South Adams Street, the three-story development consisting of 17 luxury units is another sure sign that owner-occupied, higher-price-point multifamily housing is on the rise in the central city’s Medical District.

The Oleander Place townhome project comes on the heels of several recent developments – including Magnolia Green Townhomes, Texana Townhomes and the Fairmount Lofts – that exemplify the type of higher-density properties Fort Worth South Inc., which heads up the Near Southside’s revitalization efforts, is promoting.

According to the organization, an increase in medical professionals within the neighborhood is helping push demand for a live-work environment. Out of the 30,000 people employed in the Fort Worth South district, 18,000 are employed in the health care industry, making the area the second largest employment center in Tarrant County, according to the Fort Worth South Web site.

The marketplace is responding with a rapidly expanding selection of living options for the urban dweller, said Mike Brennan, project planner for Fort Worth South.

“Oleander Place continues the revitalization of Magnolia Village and the emerging Oleander Walk neighborhood,” Brennan said. “It expands the selection of urban living options located within easy walking distance of Magnolia Avenue’s restaurant row and the Near Southside’s major hospitals.”

The project will spur further commercial redevelopment in the district, as well, Brennan said.

“Attracting more residents will support new retail, will improve the neighborhood’s stability, and will be the most effective way to continue the area’s revitalization,” said Brennan. “We think Oleander Place builds on the success of other townhouse projects in the immediate area.”

The Oleander Place sales center recently opened at 1112 S. Adams St. According to Chris Faulkner, sales and marketing director, a presentation center is scheduled to open by March 15.

Faulkner is bullish on both Oleander Place and the Near Southside.

“The Near Southside has a true neighborhood feel to it,” said Faulkner. “While I’m promoting this project, I also want to promote the Near Southside. A lot of people haven’t been to the Near Southside to see what’s going on. I want people to know what a great place it is to live,” he said.

Faulkner lives in the historic neighborhood, and said he has seen an increase in the demand for a live-work environment, where residents live close to their place of employment and have quick, easy access to dining, shopping, entertainment and recreational opportunities.

“If you work nearby, you can walk or ride your bike to work. I can walk within minutes to several great restaurants, including Lili’s Bistro, and to the new Starbucks on Rosedale,” said Faulkner. “Oleander Place will add to that true urban living alternative this neighborhood already provides. It’s a place to be. And it’s a great time to invest,” he added.

The first phase of the project will include four units. Architect is RC3D Visualization Design of Dallas, an award-winning firm headed by Roberto Castanheira, who is building similar properties in Uptown Dallas.

Developer of Oleander Place is Mint Interest Group LLC, also Dallas-based. Partners Jay Mathiesen and Phillip Ratkovic have built several townhome projects in Dallas before deciding to venture into the Fort Worth market. Oleander Place is their first development in Tarrant County.

“We actually stumbled across the location,” said Ratkovic. “We liked the area as soon as we saw it. It has all the qualifications, features and characteristics of an urban lifestyle. You can walk everywhere. It’s safe, friendly. It has character like the Village in New York. We have a lot of confidence in this project,” he said.

“Oleander Place is the first in the neighborhood to offer rooftop decks with available hot tubs and outdoor kitchens,” Faulkner said. “You’ll be able to relax in your hot tub and look at the beautiful downtown skyline.”

The project sports another first: a 24-hour online construction camera that allows homebuyers a peek at the progress of their new townhome.

Ratkovic said he and Mathiesen will be looking to build similar projects in Fort Worth and may consider some commercial development.

“We’re excited to be part of the early development and transition of the Near Southside into an urban lifestyle neighborhood,” said Ratkovic. “We’re excited to create a missing piece to help it become a true urban lifestyle.”